TriNet Group (NYSE:TNET) Issues Q2 Earnings Guidance

TriNet Group (NYSE:TNET) issued an update on its second quarter earnings guidance on Friday morning. The company provided earnings per share guidance of $1.00-1.50 for the period, compared to the consensus earnings per share estimate of $1.57. TriNet Group also updated its FY24 guidance to $5.25-6.80 EPS.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. StockNews.com upgraded TriNet Group from a hold rating to a buy rating in a report on Monday, February 5th. TD Cowen boosted their target price on TriNet Group from $129.00 to $140.00 and gave the stock an outperform rating in a research report on Monday, March 4th. Needham & Company LLC reissued a buy rating and set a $150.00 price target on shares of TriNet Group in a research report on Friday, March 1st. Finally, Stifel Nicolaus upped their price target on TriNet Group from $117.00 to $121.00 and gave the stock a buy rating in a research note on Friday, February 16th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, TriNet Group currently has a consensus rating of Moderate Buy and an average target price of $119.17.

TriNet Group Stock Performance

TNET opened at $126.78 on Friday. The business’s 50-day simple moving average is $128.43 and its 200 day simple moving average is $119.48. The firm has a market capitalization of $6.41 billion, a PE ratio of 19.53 and a beta of 1.09. The company has a debt-to-equity ratio of 12.62, a quick ratio of 1.05 and a current ratio of 1.05. TriNet Group has a 52-week low of $79.00 and a 52-week high of $134.67.

TriNet Group (NYSE:TNET) last released its earnings results on Thursday, February 15th. The business services provider reported $1.41 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.46. The firm had revenue of $326.00 million during the quarter, compared to analysts’ expectations of $300.36 million. TriNet Group had a return on equity of 87.97% and a net margin of 7.62%. As a group, sell-side analysts expect that TriNet Group will post 5.79 earnings per share for the current fiscal year.

TriNet Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 22nd. Shareholders of record on Monday, April 1st were given a dividend of $0.25 per share. The ex-dividend date was Thursday, March 28th. This represents a $1.00 annualized dividend and a dividend yield of 0.79%. TriNet Group’s dividend payout ratio is currently 15.41%.

Insider Buying and Selling

In other news, Director Wayne B. Lowell sold 10,000 shares of the stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $122.22, for a total transaction of $1,222,200.00. Following the transaction, the director now directly owns 84,766 shares in the company, valued at approximately $10,360,100.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Wayne B. Lowell sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $122.22, for a total transaction of $1,222,200.00. Following the completion of the transaction, the director now owns 84,766 shares of the company’s stock, valued at approximately $10,360,100.52. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Samantha Wellington sold 14,271 shares of TriNet Group stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $124.88, for a total value of $1,782,162.48. Following the completion of the sale, the executive vice president now directly owns 48,562 shares of the company’s stock, valued at approximately $6,064,422.56. The disclosure for this sale can be found here. In the last quarter, insiders have sold 31,052 shares of company stock valued at $3,837,142. 37.10% of the stock is owned by company insiders.

TriNet Group Company Profile

TriNet Group, Inc provides comprehensive and flexible human capital management services for small and medium size businesses in the United States. The company offers multi-state payroll processing and tax administration; employee benefits programs, including health insurance and retirement plans; workers compensation insurance and claims management; employment and benefits law compliance; and other HR related services.